Land in Nottingham

Land On The South-East Side Of Collison Street, Nottingham NG7 5AS
  • Lot No: 51
  • Property Type: Land
  • Contract Type: Unconditional with Fixed Fee

Guide Price* £50,000+ plus fees

Result Sold Prior to Auction

Property Description

Granted outline planning for two semi detached properties. The rectangular piece of land is ideally located for city centre and universities. In a popular student/HMO area this is a great opportunity. Based on comparable properties in the area, each property could expect to achieve between £175,000 - £200,000. A good quality 5 bedroom HMO could expect to achieve £125 per room. With 5 lettable rooms each property could achieve £2700 per calendar month (£32,400 per annum). Realistic potential once finished to have full site market value of £350,000 - £400,000 and a rental potential of £64,800 per annum.

Tenure

Freehold

Auction Details: The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee. Binding contracts of sale will be exchanged at the point of sale. All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law. Auction Deposit and Fees: The following deposits and non- refundable auctioneer’s fee apply: • 10% deposit (subject to a minimum of £5,000) • Buyer’s Fee of £1,500 inc. VAT The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property. There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding. Additional Information: For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page. This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties). Guide Price & Reserve Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.

Auction Details

Date 27th June 2024

Venue National Property Auction
The National Property Auction will be broadcast live on our website and open to remote bidding online, on the phone and by proxy. Registration for bidding will close at 5pm the day before the auction.

Lot Information

Contact Us

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Map

Land On The South-East Side Of Collison Street, Nottingham NG7 5AS